Coforge Limited (NSE: COFORGE), a global digital services and solutions provider, announced an expanded global partnership with Tokio Marine HCC (TMHCC), headquartered in Houston, Texas and a leading specialty insurance group with offices in the United States, Mexico, the United Kingdom and continental Europe, to drive IT transformation.
TMHCC has worked with Coforge since 2016. Coforge was engaged as an IT partner for its digital process automation capabilities, which will now expand into a global relationship. The scope of services includes Run, Build and Transform to enable business agility, superior customer experience, and doing more with less. These services cover digital platforms development including UI/UX services, data, and analytical reporting, managed application services and infrastructure services.
Brad Breau, TMHCC's Senior Vice President, Chief Information Officer, said, "Our strategic partnership with Coforge is a centrepiece in our drive towards digitalization of key business processes, as we gain operational efficiency and strive for new and innovative solutions."
"Coforge's global reach in providing deep technical and industry expertise will be a critical factor going forward for all TMHCC businesses."
Des Burke, Chief Information Officer, TMHCC International, commented, "Our partnership with Coforge allows us to leverage their deep insurance domain expertise and global delivery capabilities, and the breadth of their service offerings ties in well with our key technology investments."
"TMHCC has an ambitious growth strategy over the coming years as we embark on delivering enhanced business capabilities and embracing new ways of working. Coforge is a vital partner to our execution plan as they work well with our extended IT teams and business partners."
TMHCC is realigning its IT capability into a product model structure to promote agile, business-aligned delivery. This is part of a wider transformation program to deliver enhanced underwriting and risk solutions supported by enhanced IT capabilities. Coforge and TMHCC are working closely across these initiatives to deliver business value at pace while optimizing costs and minimizing the risk of delivery.
Rajeev Batra, EVP & Head of Global Insurance, Coforge, commented, "TMHCC has been a valued client of Coforge for many years. The specialty insurance market is rapidly evolving as insurers explore innovative ways to manage their risks and conduct their business. Coforge is helping insurance carriers across the globe in navigating this change and ensuring value realization in a predictable, cost-effective manner. We are proud of the culture and partnership we have carefully curated with TMHCC, and this expanded partnership allows us to invest and support their evolution."
Shares of Coforge Limited was last trading in BSE at Rs. 4116.30 as compared to the previous close of Rs. 4034.05. The total number of shares traded during the day was 11773 in over 1961 trades.
The stock hit an intraday high of Rs. 4201.20 and intraday low of 4090.00. The net turnover during the day was Rs. 48883122.00.